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Quarterly Report For The Financial Period Ended 30 September 2018

Financials Archive

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Condensed Consolidated Statement Of Profit And Loss And Other Comprehensive Income
For The Quarter And Six Months Ended 30 September 2018

Condensed Consolidated Statement Of Financial Position
As At 30 September 2018

Review of Performance

Comparison between Current Financial Quarter Ended 30 September 2018 and Previous Corresponding Quarter Ended 30 September 2017

A summary of the Group's performance is set out below:-

Surface Treatment & Precision Cleaning Division

Revenue for the current quarter increased 18.17% as compared to the preceding year corresponding quarter mainly due to increase across all surface treatment and precision cleaning services.

Gross profit margin decreased from 27.60% to 25.46% in the current quarter mainly due to change in product mix in the current quarter. We have taken on significant increase HDD sale at lower gross profit margin.

Administrative expenses has increased by RM595,000 mainly due to legal and professional fee.

For the current financial quarter, the Group other income of RM281,000 is mainly due to a gain on foreign exchange of RM228,000. In the previous year corresponding quarter, the group suffered a loss on foreign exchange of RM215,000 reflected in Other expenses.

For the current financial quarter, the Group reported a loss before tax of RM107,000 as compared to a loss before tax of RM224,000 in the previous year corresponding quarter.

Comparison between Current Period-to-date Ended 30 September 2018 and Previous Corresponding Period-to-date Ended 30 September 2017

Surface Treatment & Precision Cleaning Division

Total revenue from Surface Treatment & Precision Cleaning for the current period increased by 23.55% as compared to the preceding year corresponding period mainly due to increase across all surface treatment and precision cleaning services.

Gross profit margin decreased from 27.60% to 25.46% in the current quarter mainly due to change in product mix in the current quarter. We have taken on significant increase HDD sale at lower gross profit margin.

Gross profit margin remained relatively consistent at 24%.

Administrative expenses has increased by RM1,029,000 mainly due to rental expenses and legal and professional fee.

Overall, the Group reported a loss before tax of RM1.08 million as compared to a loss before tax of RM2.8 million in the previous year corresponding period.

Material Changes in the Quarterly Results as Compared with the Immediate Preceding Quarter

Surface Treatment & Precision Cleaning Division

The Group's revenue from Surface Treatment & Precision Cleaning for current financial quarter remain about the same as compared to the preceding year corresponding period.

Gross profit margin for the surface treatment and precision cleaning division increased from 23.83% to 25.46% in the current financial quarter.

Administrative expenses has increased by RM670,000 mainly due to legal and professional fee.

The Group registered a loss before tax of RM107,000 as compared to a profit before tax of RM178,000 in the immediate preceding quarter.

Future Prospects

The next quarter performance and result is expected to remain similar. Our Thailand factory facilities have been completed and it is currently undergoing customer qualification process. Its commencement date is postpone till beginning of 2019.

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